By Patrick Hedlund
Tribeca tops
The Tribeca zip code 10013, which also includes Hudson Square and parts of Soho, represents the most overpriced in the country, according to a report issued by Forbes.
The finding comes from a study of zip codes in the country’s 40 largest cities, which compared rental costs with buying costs for similar properties based on number of bedrooms, location and price per square foot.
Tribeca edged out Boston’s Chinatown, West Hollywood in Los Angeles, and Seattle’s Downtown area for having the highest “price-to-earnings spread” for all major cities.
Quoth the report: “New development is abundant in Lower Manhattan, and buyers are counting on Tribeca and the Financial District’s ability to transition from a 9-to-5 neighborhood to a vibrant 24-hour one. Tax abatements on office-to-residence conversions and lower price points than old-guard neighborhoods like the Upper East Side have also contributed to the price escalation.”
All full
The Barclay Tower residential high-rise in the Financial District has fully leased its nearly 400 units, according to developer Glenwood.
The 58-story building, located on the Tribeca border at 10 Barclay St. between Broadway and Church St., has filled all of its one-, two- and three-bedroom apartments.
The 396-unit building includes a fitness center, 50-foot lap pool and whirlpool spa and all-weather terrace.
Glenwood is also the developer of two other Lower Manhattan residential buildings: Liberty Plaza on Liberty St. in the Financial District, and the Tribeca Bridge Tower on North End Ave. in Battery Park City.
Building permit surge
The number of building permits issued for units citywide more than quadrupled compared to the same month last year, with Manhattan jumping tenfold year over year.
Of the 17,000 building permits issued across the city in June, 5,751 were granted in Manhattan — up from just 585 in June of 2007, according to a report from the Real Estate Board of New York. The 17,000 permits in June marked a 325 percent increase over the 4,028 issued citywide last year.
A total of 26,851 permits were issued from January through June of this year, compared to 16,650 in the first six months of 2007 — a 61 percent increase. All the boroughs besides the Bronx saw an increase in total building permits, the report stated, and the number of permits equals the number of residential units under construction.
“The numbers are astronomical and show an enormous surge in construction activity in New York City, likely attributable, at least in part, to developers moving forward with projects prior to the expiration of the 421-a benefits,” Steven Spinola, REBNY president, said in a statement. “In the near term, New Yorkers should look forward to the economic benefits generated by the spike in activity. ”
Daddy’s girls
Attention, apartment hunters: If you’re a spoiled brat with gobs of disposable income, then television’s reality-show wasteland wants you. Per the Mixed Use inbox comes this frighteningly believable casting notice: “Major Cable Network Seeks Daddy’s Girl For New Show.”
As you can imagine, the nitty-gritty details don’t disappoint: “Are you in the market for your first apartment? Will nothing but the best do? Have you always had the finer things in life and are now looking for that dream penthouse in the sky? Do you love to be the center of attention and live to impress your friends? Do your parents have credit card in hand, waiting to fill your new place with everything your heart desires?”
Still reading raptly? Remember, the subject must be “a fun and charismatic girl in her late teens/early 20s,” and the camera crews “will follow her journey from apartment hunting straight through to the finished pad’s reveal.”
It makes one wonder where this N.Y.C. neophyte could land to keep her in the neighborhood most fitting the desired description. While Murray Hill or the Upper East Side come to mind, anybody who’s anybody (read: has a trust fund) would want to consider Downtown’s trendy environs. We hear the Bowery is pretty chic these days… .
Prospective Daddy’s Girls can e-mail mike@sharpentertainment.com, and don’t forget to send along a picture.
mixeduse@communitymediallc.com
